Regulatory Capital Requirements
An authorised UCITS ManCo is required to hold minimum regulatory capital of at least €125,000 plus 0.02% of its assets under management in excess of €250 million, subject to a cap of €10 million.
In practice, the Central Bank requires a UCITS ManCo to hold sufficient minimum capital upon authorisation to cover its projected regulatory capital requirements for its first year of operation.
Other Compliance Obligations
A UCITS ManCo must adopt certain policies and procedures, including policies relating to order handling and aggregation; best execution; remuneration; conflicts of interest; risk management; liquidity management; business continuity; accounting policies and procedures; compliance; personal transactions; valuation; anti-money laundering; cyber security; data protection and privacy; record keeping; and outsourcing.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
